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Latham & Watkins Advises Energy Transfer LP on its Series H Preferred Unit Offering

June 22, 2021
A Houston-based team advises the energy company in the offering.

Energy Transfer LP (ET) has announced it has priced an underwritten public offering of 900,000 of its 6.5% Series H Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units at a price of US$1,000 per unit, resulting in total proceeds of US$900 million, before deducting underwriting discounts and offering expenses payable by ET.

Latham & Watkins LLP represents Energy Transfer LP in the offering with a corporate deal team led by Houston partners Kevin Richardson and Bill Finnegan, with associates Dan Harrist, Kate Wang, and Austin Johnson. Advice was also provided on tax matters by Houston partners Tim Fenn and Bryant Lee, with associates Mike Rowe and Marianne Standley; and on environmental matters by Houston partner Joel Mack and Los Angeles Counsel Josh Marnitz.